The first three posts in this series covered fraud and theft of products entering the establishment, food theft, and alcohol theft. Now, we’re going to look at outright theft of sales receipts. While it’s unlikely that your servers are grabbing handfuls of dollars on their way out the door, today’s post looks at several more sophisticated methods of achieving the same result.
Posts Tagged ‘Theft’
Restaurant Fraud & Theft – Part IV
Posted in Cost Control, Coupons, Customer Comps, Internal Controls, Theft, tagged Internal Controls, Operations, Profitability, Theft on February 14, 2011| 2 Comments »
Restaurant Fraud & Theft – Part III
Posted in Alcohol Costs, Cost Control, Internal Controls, Theft, tagged Cost Control, Internal Controls, Liquor Costs, Over-pouring, Theft on February 12, 2011| 1 Comment »
“What I like to drink most is wine that belongs to others.”
Diogenes.
Today’s post looks at alcohol related thefts once the alcohol has made its way to the coolers and shelves in the bar. These types of alcohol theft are broad categories. Within each there are many scams, too many to list. As I have discussed many times on this blog and my tax blog, alcohol theft has dire tax consequences for a restaurant. In Canada, the total cost of the theft can easily be twice the cost of the stolen alcohol. That’s why it is so important to minimize theft in your operation.
Restaurant Fraud & Theft – Part II
Posted in Cost Control, Food Costs, Internal Controls, Theft, tagged Cost Control, Food Costs, Internal Controls, Theft on February 12, 2011| 1 Comment »
Part I in this series focused on fraud and theft up to the point your inventory becomes available for sale. As we found out, lots can go wrong during the purchasing, receiving and inventory safeguarding processes. These frauds and thefts involved uncooked food or unpoured alcohol. Now, let’s uncork a bottle and turn up the heat.
Today, I want to discuss some of the major thefts that happen during “normal” operations. These thefts involve cooked food or poured alcohol. These are the ones that take place “right under your nose”. Today’s post examines food theft.
Are All Thefts Equal?
Posted in Alcohol Costs, Cost Control, Internal Controls, Sales Taxes, Theft, tagged Cost Control, Internal Controls, Liquor Costs, Over-pouring, Profitability, Sales Taxes, Taxes, Theft on February 4, 2011| Leave a Comment »
Today’s post asks, are all thefts equal? I’ve listed four common forms of theft in restaurants and bars. If the amount of theft is equal in each case, is the cost to the restaurateur the same? If you think each one has the same impact on the restaurant or bar, read on.
Restaurant Fraud & Theft – Part I
Posted in Alcohol Costs, Cost Control, Food Costs, Internal Controls, Sales Taxes, Theft, tagged Cost Control, Food Costs, Internal Controls, Liquor Costs, Profitability, Theft on January 30, 2011| 5 Comments »
IT NEVER HAD A CHANCE TO BE SOLD
Today’s post covers fraud and theft of stock items before they are sold or used in your establishment. These types of fraud relate to purchasing, receiving and inventory stock keeping. Subsequent posts will cover additional types of fraud and theft. These posts discuss one of the most important issues facing restaurateurs.
Any theft of product for sale can result in significant sales and income tax liabilities. So significant, in fact, that it could put your restaurant or bar out of business. My restaurant tax blog, Canadian Restaurant Tax Advisor, has a wealth of information about restaurant tax audits and their dire implications for you.